Argentina Pension Funds Returns Up

Argentina’s pension funds recorded an average annual rate of return of 21.25%, in the 12 months to September, well above the rate of 7.95% last year. Most of the country’s 12 pension funds are controlled by foreign-owned banks. However, the highest return (38.49%) was recorded by Nación AFJP, controlled by state-owned Banco de la Nación. The pension funds market controls assets of around $22 billion.